TechFlow news, on October 23, according to Cointelegraph, prediction market Polymarket is intensifying user scrutiny, particularly focusing on the identities of large bettors to ensure compliance with platform rules. As Bloomberg reported on October 22, this move stems from concerns that U.S. users might be bypassing geographic restrictions using virtual private networks (VPNs).
Polymarket has so far attracted nearly $2.3 billion in wagers on the 2024 U.S. presidential election market. The platform currently shows Republican candidate Donald Trump with a 63.7% chance of winning, significantly ahead of Democratic candidate Kamala Harris at 36.2%. However, this forecast diverges notably from most voter opinion polls. A Reuters poll indicates Harris leads Trump 46% to 43%.
Notably, a major bettor using the name "Fredi9999" has placed over $20 million in bets favoring Republican outcomes, drawing attention to the identity of bettors. Polymarket investor Mark Cuban believes much of the platform's betting activity likely originates overseas, and therefore may not accurately reflect the intentions of American voters.
